RareX’s ‘exceptional’ drill results to drive rare earths upgrade
Drilling at RareX’s Cummins Range project has returned impressive results such as an eye-watering 10.6% rare earths intercept and a thick 103m zone of primary mineralisation.
The 3m intercept – grading 10.6% total rare earths oxide with 1.8% neodymium-praseodymium within a broader 21.9m zone at 3.1% TREO with 0.6% NdPr and 0.2% niobium oxide (Nb2O5) – in CDX0011 was intersected 35m down-dip of the 41m zone at 2.4% TREO in CRX0063.
Meanwhile, the thick 102.97m interval at 1.6% TREO with 0.3% NdPr and 0.4% Nb2O5 – that includes a 46.97m zone at 2% TREO with 0.4% NdPr and 0.5% Nb2O5 – was drilled into an area interpreted by previous explorers to contain mineralisation upgraded by weathering processes.
These are just the highlights of RareX’s (ASX:REE) diamond drilling, which has clearly highlighted the potential of the primary zone to contain wide zones of high-grade mineralisation.
This could in turn lead to a substantial increase in the Cummins Range existing resource of 18.8Mt at 1.15% TREO and 0.14%Nb2O5.
Managing director Jeremy Robinson said the exceptional results are a game changer for the project, showing that the Cummins Range is potentially much larger and higher-grade than previously noted.
“Partial assays from CDX0011 have returned some of the highest grades ever recorded at Cummins Range, including a fantastically high-grade zone grading 10.6% TREO – rarely seen in deposits like this,” he added.
“Plus, we have a world-class 103m intercept in hole CDX0004, in an area where previous explorers believed the mineralisation had been upgraded by weathering processes.
“Instead, we have a very large zone of primary mineralisation, which is a very exciting development for the project.
“We are looking forward to receiving the balance of the assays and planning our next phase of exploration at this rapidly evolving and growing deposit.”
Besides the top hit at CDX0011, the company noted that the CDX0004 hole had passed through a wide breccia zone which sits in the hanging wall position of the Main Fault.
This breccia zone has consistent wide intervals of 1% to 2% TREO and strong niobium mineralisation.
Notably, the rare earths and niobium grade appear to be increasing to the east with a higher grade zone of 46.97m at 2% TREO with 0.4% NdPr and 0.5% Nb2O5.
The lower half of the breccia is also more strongly mineralised, leading into the interpreted position of the Main Fault.
Other holes such as CDX0002 and CDX0005 also drilled through several newly discovered mineralised zones in the hanging wall and footwall positions.
The most notable of these zones is a shallow intercept of 11.3m grading 2.4% TREO with 0.4% NdPr and 0.2% Nb2O5 at CDX0002.
This article was developed in collaboration with RareX, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.